Asian Home Healthcare Market Costs 62.32 Billion USD by The year 2020

In accordance to a new market research report "Asian Home Health Care Market by Product (BP & Heart Rate Monitor, Ovulation KIT, HIV Test, ECG, EKG, EEG, Hearing Aids, Ventilator, Cane, Walker, Wheelchairs), Services (Rehabilitation, Skilled, Hospice, Palliative Care), & Telehealth - Forecasts to the year 2020", issued by MarketsandMarkets, the global market is hoped to reach USD 62.32 Billion by the year 2020 from USD 39.07 Billion in the year 2015, at a CAGR of 9.8 percent during the forecast period.

Progress in this market is mainly driven by factors like the rapidly growing geriatric population (particularly in Japan, Singapore, China, South Korea, and Taiwan), the increasing requirement for cost-effective healthcare delivery because of increasing healthcare costs, rising incidences of chronic infections, and technological advancements in devices. Although, limited insurance coverage, low awareness about home healthcare, and threats to personal safety of home care employees are the factors restraining the progress of this market to a certain extent.

The report segments the Asian Home Healthcare Market based on products, services, telehealth, and countries. Deployed on products, the market is further segmented into testing, screening, and checking products; therapeutic products; and mobility care products. The testing, screening, and monitoring products segment is assumed to account for the greatest share of the Asian home healthcare products market in the year 2015. The shifting trend from conventional treatment to a preventive access and rising purchasing capability of persons in Asian countries is hoped to boost the progress of the Asian home healthcare testing, monitoring, and screening devices market. In addition to portability, the potential of these devices to mitigate healthcare complications and ensure great accuracy are also hoped to create a important demand for monitoring and testing devices. Furthermore, with the rising number of patients suffering from chronic infections in various Asian countries, the demand for these products is increasing.